Blockchain.com confidentially submits IPO filing with SEC

Blockchain.com, a crypto services company, has submitted a confidential IPO filing with the US Securities and Exchange Commission (SEC). The filing involves a proposed offering of Class A ordinary shares, though the pricing and number of shares have not been finalized. The company’s draft S-1 registration statement is subject to SEC review and market conditions, allowing for regulatory feedback before public disclosure. Founded in 2011, Blockchain.com manages over 95 million wallets, serves 43 million verified users, and has processed more than $1.1 trillion in crypto transactions. Its services include consumer trading, wallet solutions, and institutional products. The filing comes after recent expansions, such as entering African markets and launching perpetual futures trading through its self-custodial wallets via the Hyperliquid protocol. The move aligns with a broader trend in the crypto sector, where several firms have explored public listings. Backpack Exchange announced plans for a US IPO in February, structuring its Backpack token to unlock in stages ahead of a potential listing. Meanwhile, Copper, a digital asset custodian, reportedly shifted from IPO plans to considering a sale this year. Kraken, another major player, had previously filed for an IPO in November 2025 but paused its plans amid weaker market conditions. Parent company Payward later faced delays, including layoffs in May, potentially pushing the IPO to 2027. Despite these fluctuations, BitGo successfully completed one of the largest crypto IPOs of 2026 in January, raising $213 million at a valuation exceeding $2 billion. Blockchain.com’s filing reflects the crypto industry’s cautious but persistent push toward public markets, even as volatility and regulatory uncertainty persist. The company’s extensive user base and transaction volume position it as a key player in the sector’s evolving financial landscape.